FTX and Digital Financial Group Agree to Acquisition of LedgerX, Supporting DFG’s Commitment to Web 3.0, Polkadot
FTX and DFG would have agreed to the acquisition of LedgerX, fueling DFG’s commitment to Web 3.0 and Polkadot.
FTX, a leading virtual currency derivatives exchange, revealed on August 31, 2021 that it was moving forward with the acquisition of LedgerX, the first digital currency futures / options exchange and clearinghouse “regulated by the United States Commodity Futures Trading Commission (CFTC).“
Digital Finance Group (DFG)The management of noted that they had “the vision that the cryptocurrency derivatives industry was about to mature and needed regulation to achieve greater market share, which is why DFG became LedgerX’s largest shareholder (over 25%).
In May 2017, DFG reportedly led the Series B round and its expansion “followed by Miami International Holdings, while also leading the December 2019 Series C”. Other investors, including Lightspeed Venture Partners, Google Ventures, SV Angel, have also been involved in LedgerX’s investment rounds.
As declared in the update, DFG “actively” invested in various Web 3.0 initiatives and the Polkadot ecosystem, “furthering their growth which will drive a paradigm shift”. According to DFG’s future investment strategy, it will “reinvest the profits from LedgerX’s investment in the Polkadot ecosystem and more Web 3.0 projects as stated in the portfolio”.
James wo, the founder and CEO of Digital Financial Group, told CI that DFG is a global blockchain and cryptocurrency investment firm, founded in 2015 with over $ 1 billion in assets under management. He confirmed that they “focus on finding and creating value through [their] investment and research team through analytical research based on the most impactful and promising global blockchain and Web3.0 projects that will bring a paradigm shift to the world.
He also shared:
“We are innovating by supporting projects that will produce profound changes in these sectors around the world. We have seen companies around the world migrate their systems and methods to more efficient solutions offered by blockchain, CeFi, DeFi, NFT and Web 3.0.
He also noted:
“For example, we are the parent company of Matrix, a virtual asset trading platform that is under development in one of the safest and most forward-thinking regulatory jurisdictions in the world, the Arab Emirates. United. Additionally, we are strong supporters of evolving and building breakthrough solutions like DeFi and Web3.0 through business advice, network resources, and engagement with a larger community to help them. to create long-term value.
“For this reason, we have focused on what we consider to be underrated blockchain protocols such as Polkadot, where there have been significant breakthroughs from Layer 0 to Layer 2 in an extraordinary environment which we believe , will have great effects on the way blockchain is viewed. and used over the next decades in industries like those mentioned above and more.